(Photo credit: Reinhold Matay-Imagn Images)

LIV Golf plans to move ahead with its new business model to potential investors amid a report that the league is putting pieces together for potential bankruptcy if it doesn't find new financing beyond this season.

Saudi Arabia's Public Investment Fund announced last month that it will not financially back the circuit past this season.

LIV Golf CEO Scott O'Neil has started the search for two different levels of investors, while seeking as much as $250 million in investment capital beyond this year, Axios reported on Monday.

PIF has invested between $5 billion and $8 billion since starting LIV Golf, according to estimates, but will now focus on investments domestically. The league never has come close to turning a profit, according to reports.

Per Bloomberg, LIV Golf is mulling relocation of its headquarters to the United States to take advantage of the country's more favorable bankruptcy restructuring laws.

A LIV spokesperson offered the following to multiple media outlets in response to Bloomberg's report:

'LIV Golf is firmly focused on securing a transaction that positions the organization for the long-term. As we begin presenting our go-forward business plan to prospective capital partners, we are focused on achieving a sustainable future and there are multiple pathways under active exploration.

'We continue to see great momentum on the course and with support through the 2026 season and a clear plan to raise capital, leadership is focused on identifying the right long-term strategic partners who believe in our mission to grow the game of golf worldwide. These conversations are just getting underway, and as they progress, the company expects to gain further clarity around the structure and timing of a potential transaction.'

LIV Golf already postponed its New Orleans tournament that was slated for June but left the door open for a different version of the event later this year. The postponement leaves a gap on the schedule between LIV Golf Andalucia in Spain (June 4-7) and LIV Golf UK (July 23-26).

In that span, the U.S. Open is set for June 18-21 at Shinnecock Hills Golf Club in Southampton, N.Y., with The Open Championship to run from July 16-19 at

Royal Birkdale Golf Club in Southport, England.

LIV Golf's next event is scheduled to be played May 28-31 at Asiad Country Club in Busan, South Korea.

--Field Level Media